US Hiring and Wage Growth Both Slowed in ADP July Data
Firms added 122,000 jobs in July, lowest since January Pay increases slowed to the smallest pace since 2021 US companies added the fewest number of workers since the start of the year and wage growth slowed, consistent with signs of a softer labor demand. Private...
L’Oréal Sales Growth Sluggish as China Weakness Persists
North Asia region, which includes China, falls by 2.4% Dermatological, consumer units fall short of estimates L’Oréal SA reported sluggish sales growth in the second quarter as the world’s biggest maker of beauty products suffered from weakness in China. Sales rose...
China Regional Banks Exposed to Bond Reversal as PBOC Sales Loom
Banks have been buying bonds amid rally, raising PBOC concerns Central bank is poised to sell bonds to limit risk to lenders China’s regional lenders are facing growing risks in the nation’s $4.3 trillion sovereign debt market after an unprecedented bond rally this...
China Factory Activity Shrinks for Third Month in Hit to Growth
Domestic demand is still sluggish and recovery remains uneven July data adds to evidence of weak growth in China: economists China’s factory activity contracted for a third straight month in July, leaving the economy on a weak trajectory that’s frustrating Beijing’s...
Oil Dips to Nearly Two-Month Low Amid Shaky Demand, OPEC Watch
Citigroup reduces forecast for China’s economic growth Technicals suggest the latest lurch lower has been too quick Oil retreated to the lowest in almost two months as the outlook for demand in China remained gloomy while traders looked ahead to key data points. West...
Geithner Sees ‘Dark Shadows’ for Next President, Warns on Dollar
Paulson says US debt growth will ultimately destroy prosperity Former Treasury secretaries speak on US economic challenges The two US Treasury secretaries who navigated the nation through the global financial crisis said the next administration will inherit a...
Condo Rents in Toronto Decrease for First Time in Three Years
Surge in rental listings is helping to relieve cost pressure Rents had been setting records amid surge in immigration Rents for Toronto condos fell this year for the first time since 2021 as a surge in listings brought some relief to renters. Average condo rents for...
P&G Sales Miss Estimates as Price Increases Finally Slow Down
CFO says company used promotions to bolster a new Tide product Organic sales increased at the slowest pace in six years Procter & Gamble Co. shares fell the most in more than four years after quarterly sales missed analysts’ projections as the maker of Pampers...
Chinese EVs Nab Record 11% Share in Europe Ahead of Tariffs
SAIC fills dealer lots with MG4 model to beat duty deadline BYD gains customer traction with Euro 2024 marketing push Chinese brands captured 11% of the European electric-car market in June, notching record registrations as manufacturers raced to beat stiff European...
McDonald’s Aims to Blunt First Sales Dip Since 2020 With $5 Deal
CFO says sales trends remain negative in current quarter US $5 value meal deal launched in final week of quarter McDonald’s Corp. investors shrugged off the burger chain’s first sales drop in four years as executives pledged to launch new promotions to help stem a...
McDonald’s same-store sales fall for 1st time since 2020 as tapped-out customers hold on to cash
They're not lovin' it. McDonald's global same-stores fell for the first time in nearly four years in the second quarter as inflation-weary consumers skipped eating out or chose cheaper options. The company said it's working on fixes, like meal deals and new menu...
Hedge Funds Selling Industrials at a Record Pace, Goldman Says
Concerns on US trade tariffs lead to wariness on the sector Selling points to ‘capitulatory behavior’ in sector: Goldman Hedge funds are rapidly unwinding their bets in industrials stocks, and rotating into the corners of the market exposed to commodities, such as...
China Investors Pile Into Saudi ETFs as Two Nations Grow Closer
Both ETFs trade at sizable premiums to their net asset values Saudi ETFs have competitive advantage in yields: Guotai Junan Chinese investors are pouring money into two new exchange-traded funds tracking Saudi Arabian shares as the dismal performance of local equities...
How a Year of the Fed’s High Rates Has Affected the US Economy
The central bank has kept borrowing costs at a more than two-decade high for a full year. The results have been somewhat surprising. In the year since the Federal Reserve brought interest rates to a more than two-decade high, the central bank has succeeded in taking...
